Most Popular
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Over 82,000 Korean young people unemployed, not searching for job long-term
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40% of Korea's workers who reported bullying faced retaliation: survey
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600 evacuated as heavy rain floods roads, homes in southern regions
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Torrential rainfall forces 1,500 to evacuate, causes widespread damage to homes, roads
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[KH Explains] Can smart chargers ease tensions over EV fires?
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New Fifty Fifty off to strong start
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[Weekender] Young Koreans more open to Japanese cultural products
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1 in 5 households to have breadwinner over 80 in 30 years
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Jeju's solo traveler-friendly spots offer solitude as well as camaraderie
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Doctors defend colleague accused of blacklisting non-strikers
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Rural affairs expert nominated new agriculture minister
Agriculture Minister nominee Kim Jae-soo is a technocrat with more than 30 years of experience in rural affairs, administration and distribution.Since 2011, Kim has served as chief executive officer at the state-controlled Korea Agro-Fisheries and Food Trade Corp. He is the longest serving CEO at aT Corp. as he was reappointed in 2015, proving his management skills. Agriculture Minister nominee Kim Jae-sooBefore taking up the CEO post at the state firm, Kim served various posts within the Agricu
IndustryAug. 16, 2016
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Shinsegae’s bid for Coex Mall faces rocky outlook
As Shinsegae Property, the real estate development company owned by Shinsegae Group, prepares to sign a contract to take over operations of Coex Mall and CALT Mall in southern Seoul, questions remain about the future profitability of the project.Shinsegae Property was named the preferred bidder to oversee operations of the malls’ 327 stores for the next 10 years through a master lease. It was the only bidder for the contract after Hyundai Department Store and Aekyung Group dropped out, most like
IndustryAug. 16, 2016
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Chinese company opens drone arena in Korea
Chinese drone manufacturer DJI said Tuesday that it has opened the world's first indoor drone arena in South Korea in a move to target one of the world's fastest growing industries.The 1,395-square-meter arena in Yongin, about 50 kilometers south of Seoul, allows hobbyists and racers to fly unmanned aerial vehicles safely without restrictions.DJI, which claims 70 percent of the global drone market, said the venue aims to target the South Korean market for content provided by the aerial device."W
TechnologyAug. 16, 2016
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[News Focus] Lenders seek to expand overseas presence with mobile banking
Following failed attempts at physical operations abroad, Korean banks are trying again to expand overseas, this time by focusing on tech-savvy consumers. They have ditched their Korean names and brick-and-mortar branches in foreign countries, targeting young consumers instead with mobile banking services. Woori Bank officials and local staff attend a ceremony to launch “WiBee Bank” to offer online loan applications and currency exchange services in Cambodia in September. (Woori Bank)Shinhan Ban
Aug. 16, 2016
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Asiana plane hit by lightning in Turkey
An Asiana Airlines plane was hit by lightning in Turkish airspace shortly before landing at Ataturk Airport in Istanbul on Saturday, according to the airline Tuesday.Although the body of the A330 was charred by the lightning, there was no significant damage and no casualties. The plane landed safely at Ataturk to undergo inspection.The plane, which had taken off from Incheon International Airport for flight OZ551, had been originally scheduled to return to Incheon that afternoon.The inspection o
IndustryAug. 16, 2016
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[Photo News] The Face Shop's Kakao cosmetics enter China
KAKAO COSMETICS ENTER CHINA -- South Korean cosmetics brand The Face Shop introduced its all-popular Kakao Friends edition cosmetics products in China for the first time during a ceremony attended by local celebrities and media in Beijing on Aug. 12. The collaborative cosmetics, first launched in Korea in March this year, are now sold in Singapore, Vietnam, the United States and China, according to The Face Shop. (LG Household & Health Care)
IndustryAug. 16, 2016
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Foreign ownership of Korean stocks grows 10%
Foreign ownership of South Korean stocks grew about 10 percent from a year earlier, the country’s stock market operator announced Tuesday. According to the Korea Exchange, foreign investors, as of Aug. 10, owned a total of 464.1 trillion won ($424 billion) of shares listed on the benchmark securities trading index Kospi and techy-heavy Kosdaq. Their holdings accounted for 30.6 percent of total market capitalization.Compared to the end of 2015, the market capitalization held by foreign investors
Aug. 16, 2016
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Low oil price keeps fuel surcharge of airlines at naught for longest streak
Major South Korean airlines will not impose any fuel surcharge on international passengers in the upcoming month, the companies said Tuesday.Local industry leader Korean Air Lines Co. and its local rival Asiana Airlines Inc. have not charged any fuel surcharges since September 2015, the longest streak since the surcharge system was introduced in July 2005.Local airlines are allowed to impose a certain amount of fuel surcharges to help cover their costs when the average price of jet fuel from Sin
IndustryAug. 16, 2016
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Korea, Hong Kong to streamline automated immigration checks
South Korea's government on Tuesday said it has agreed with Hong Kong to simplify the automated immigration procedures for each other starting next week, by eliminating the mandatory online preregistration.The Ministry of Justice said South Korean nationals and Hong Kong citizens will be able to use the automated immigration system when visiting each other's countries without preregistering online starting Monday.Under the new plan, South Koreans aged 17 or older visiting Hong Kong can register
Foreign AffairsAug. 16, 2016
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Some imported frozen fruits contain high level of colon bacillus
South Korea's consumer watchdog said Tuesday it has discovered some imported frozen fruit containing a high level of colon bacillus, which could cause diarrhea and other dysenteric symptoms.The Korea Consumer Agency said it has examined the remaining agricultural chemicals from 25 imported frozen fruits and found two of them had colon bacillus beyond the permissible level.Frozen mangos distributed by Sdail contained 15-560 CFU/g of colon bacillus, with its maximum level more than five times the
IndustryAug. 16, 2016
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More than 3 mln people likely to get paid below minimum wage next year: BOK
South Korea's central bank said Tuesday that more than 3 million people are likely to get paid below minimum wage next year.The Bank of Korea said in a report that the number of workers, whose pay is below the minimum wage, could reach 3.13 million people in 2017, up from 2.06 million in 2010.The report also showed that the ratio of workers, who are paid less than the minimum wage, could account for 16.3 percent of total workers next year, compared with 12.4 percent in 2010.The bank said agricul
Aug. 16, 2016
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Doosan Bobcat gets preliminary IPO approval in Korea
Doosan Bobcat Inc., a unit of power and construction equipment conglomerate Doosan, has received preliminary approval for its initial public offering planned for this year, the country's main bourse said Tuesday.Doosan Infracore Co. and Doosan Engine own a majority 78.4-percent stake in Doosan Bobcat, which operates 31 subsidiaries in 20 countries. Doosan Bobcat is a leading player in the small construction machinery sector in the United States, according to the Korea Exchange.Doosan Bobcat is e
Aug. 16, 2016